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CS - Imperial earns $1.2B on improved upstream & tax provision - August 2019

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Imperial Oil Ltd. said that strong oil sands output and an allowance for lower future Alberta corporate taxes pushed net income up to $1.2 billion for Q2, up sixfold from the $196 million profit reported a year ago. The results included a $662 million provision for Alberta’s staged corporate tax reduction to 8% by 2022 from the current 12%, which is a benefit to the bottom line that most Canadian oil companies have seen......
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